Vior closes $1.49-million private placement
2021-10-22 10:08 ET – News Release
Mr. Mark Fedosiewich reports
VIOR ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Vior Inc. has completed the closing of a non-brokered private placement by issuing a total of 5,327,628 flow-through common shares at 28 cents per share, for total gross proceeds of $1,491,736. The securities issued in the private placement are subject to a four-month hold period expiring on Feb. 22, 2022.
Vior will use the private placement proceeds to finance exploration work on its Quebec properties .
The insiders’ participation for $222,600 is exempt from the formal valuation and minority shareholder approval requirements provided under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions in accordance with sections 5.5(a) and 5.7(1)(a) of Regulation 61-101. The exemption is based on the fact that neither the fair market value of the private placement, nor the consideration paid by such insiders, exceeds 25 per cent of the market capitalization of the corporation.
As a result of the closing of the private placement, there are now 78,271,895 common shares of Vior issued and outstanding.
The private placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. In connection with the offering, finder’s fees equal to an aggregate amount of $58,552 were paid to arm’s-length third parties of Vior.
About Vior Inc.
Vior is a hybrid junior mining exploration company based in Quebec whose corporate strategy is to generate, explore and develop high-quality projects in proven and favourable mining jurisdictions in North America. Through the years, Vior’s management and technical teams have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects.